Aha Group execs get heavy sentences in crypto fraud appeal

Executives of 'Aha Group' have received heavy sentences in an appeals trial for orchestrating a large-scale cryptocurrency investment scam that promised high returns, the Busan Ilbo reported. The group defrauded over 2,000 people of more than 40 billion won. The Changwon branch of the Busan High Court sentenced two individuals, identified as A and B, to 12 and nine years in prison, respectively, on charges of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes. A and B were the chairman and president of Aha Group, based in Changwon, South Gyeongsang Province. They were found guilty of forming an unregistered multi-level marketing organization in 2016 and collecting approximately 46.8 billion won from 2,138 victims. In their initial trial, they were sentenced to 13 and 10 years, respectively. They appealed the verdict, arguing that the sentences were too severe.